Nautilus Solar Energy acquires 17MW solar portfolio from Pine Gate Renewables
Nautilus Solar Energy said that it has acquired a couple of solar portfolios in Oregon and Rhode Island with a combined capacity of around 17MW from Pine Gate Renewables for an undisclosed price.
According to the US solar energy developer, the two developments are in the early-to-mid stages.
Nautilus Solar Energy plans to take each of the solar portfolios to completion and handle their long-term asset management and maintenance services.
Patty Wright – Pine Gate Renewables Development VP said: “We’re happy that Nautilus Solar is acquiring these projects to provide more renewable energy to Oregon and Rhode Island.
“We work with landowners and developers at all stages of a project’s lifecycle to create long-term asset value.”
The 14MW solar power plant portfolio in Oregon is made up of five developments across four counties in the western part of the state. The portfolio marks the foray of Nautilus Solar Energy into Oregon.
One of the solar power plants in Clackamas County is expected to begin operations in late 2021.
In Rhode Island, Nautilus Solar Energy will be adding a 3MW development site located in Providence County. The solar power plant in Rhose Island will generate enough clean energy to power nearly 680 households within the National Grid service territory.
The Rhode Island solar project is anticipated to begin operations in 2022.
Jim Rice – Co-Founder and Co-CEO of Nautilus Solar Energy said: “With these acquisitions, we significantly expand our renewable energy presence in Oregon and Rhode Island.
“This deal exemplifies Nautilus’s commitment to working closely with our early stage development partners and becoming a leading acquirer of solar portfolios across the country.”
Earlier this month, Nautilus Solar Energy said that it will co-develop a 13MW portfolio in Colorado alongside Pivot Energy.